'Soft landing' is unlikely for US economy, says JP Morgan's Jamie Dimon

Jamie Dimon said the Federal Reserve probably can’t cool the red-hot economy without bringing on a recession.

“I don’t know if it could be a soft landing -- I don’t think so, but it might,” the JPMorgan Chase & Co. chief executive officer said at an industry conference in Washington Thursday, adding that the alternatives would be a mild or a severe recession. “In a tough recession, you could expect the market to go down another 20% to 30%.” 

Still, Dimon said he has “total faith and trust” in Fed Chair Jay Powell, and that stagflation is far worse than most